No presales finance, 70% LVR, Suburban Melbourne

BACKGROUND Development Finance Partners (DFP) was engaged by its builder/developer client to procure funding for a 4 level, 8 apartment project to be constructed in suburban Melbourne. THE KEY ISSUE IN SOURCING FUNDS The client was seeking a competitive funding package with no presales, where the client’s building company was also to be the head […]

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$15.45M, Residual Stock @ 80% LVR, Debt Restructure, Sydney Metro

Development Finance Partners (DFP) was engaged by its client to assist it in procuring funds to refinance a recently completed townhouse project and a cross collateralised 2nd facility secured by a portfolio of residential properties – with the key objective of lowering the current borrowing costs. RESULTS DFP DELIVERED 1. Settlement of a $12.26m First […]

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24hr Approval, $4.9M Loan, No Presales, Owner Builder

Boutique Over 55’s Apartment / Townhouse Development Upper North Shore Sydney, NSW BACKGROUND The client acquired a development site on Sydney’s lower north shore with funds raised from a major bank a number of years ago before recently applying for approval and achieving consent for the proposed project. When the developer approached the existing bank […]

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Land Subdivision

Senior Debt loan $4.5m for site settlement and civil works for the completion of 11 residential allotments at 65% of the Gross Realisation Valuation in North Kellyville, NSW. PROJECT BACKGROUND The subject project comprises 11 exclusive, ready to build residential land lots where the purchaser is able to choose their own builder and design their […]

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Effective Property Development Tax Structures

By David Kenney, Partner, Hall Chadwick As a tax adviser, there is nothing more frustrating than landing a great new client in a terrible property development tax structure. Small to medium developers often use a fresh entity/structure for each development to isolate risk, so they aren’t as susceptible as clients in other industries to structural […]

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Minimising Risk with Options

By David Kenney, Partner, Hall Chadwick Options are a useful way of minimising up-front costs and commercial risk for developers. As a tax adviser, I get asked all the time about the GST and duty implications of financial options. In fact, a new client of mine asked about GST on an option over a particular property. After […]

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Development Funding – What are the real property development costs involved?

When looking at property development costs, the two most common questions from property developers are: “What is the “all up” rate of the bank’s facility?” – i.e. BBSY (Bank Bill Rate) plus Margin plus Line Fee; and “How high is the rate for Mezzanine Debt?” What many do not realise is that the common answers […]

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Is Preferred Equity a solution?

Understand how preferred equity can support your property development funding It is common knowledge the Bank’s loan-to-value ratios have retreated a long way from pre-GFC levels. Compounding this challenge to Property Developers has been the falling ‘As Is Land Values’ and ‘On Completion Values’; not to mention, the higher levels of pre-commitments now required by […]

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$19.10m Construction Finance Carnegie, VIC

Development Finance Partners (DFP) was engaged by its client to assist with refinancing the security property and funding development and construction costs of a five-storey mixed-use building comprising 47 residential dwellings, a retail space and café premises in Carnegie Victoria. DFP had previously assisted the client with funding to acquire the site and undertake the […]

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$13.73m Construction Finance Cheltenham, VIC

Development Finance Partners (DFP) was engaged to provide a construction funding facility for a mix of 1, 2 & 3-bedroom apartments in a 4 level, 34 apartment building to be constructed in Cheltenham Victoria. DFP had previously assisted the client with funding to acquire the site and undertake the development approval process. The Key Issues […]

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